Following weak leads from Wall Street ahead of key monthly jobs figures, the Australian share market plunged into the red at the open and has now erased all of yesterday’s gains, tracking 1.5 per cent lower at noon. All sectors are in the red today but the big banks are proving to be the biggest drag on the market, all shedding around 2 per cent. There have also been widespread losses across the energy space, with Senex Energy and Beach Energy the biggest casualties.
The S&P/ASX 200 index is 77 points lower at 5,006. On the futures market the SPI is down 78 points.
Company news
Programmed Limited
(ASX:PRG) says it has sold the Damstra workforce software business acquired as part of its acquisition of Skilled in October 2015. The sale price is $6.8 million with payments spread over two years.
Shares in Programmed Limited are trading down 2.03 per cent at $1.45.
Austal Limited
(ASX:ASB) is pleased to announce the construction of one additional Littoral Combat Ship has been funded by the US Navy. LCS 26 will be the eleventh Independence-variant Littoral Combat Ship built by Austal as prime contractor. Funding for LCS 26 will increase Austal’s order book to approximately $3 billion. Shares in Austal are trading down 1.76 per cent at $1.54.
Best and worst performers
The sector with the least losses is Materials, down 0.8 per cent to 7,199. Shares in Evolution Mining have risen 1.15 per cent and trading at $1.54. Shares in Independence Group and Newcrest are also stronger.
The worst performing sector is Utilities, falling 2.44 per cent to 6,900. Shares in APA Group have fallen 4.09 per cent, trading at $8.45. Shares in Duet Group and Ausnet are also lower.
Gold and the dollar
Gold is trading at $US1,233 an ounce.
The Australian dollar is buying $US0.7674.
